Rupert Murdoch and Time Warner

7/7/14 11:39 AM EDT

The gossip in Sun Valley, Idaho, this week is that Rupert Murdoch is eyeing an acquisition of Time Warner, parent company of the Warner Bros. empire, Turner Broadcasting — which includes CNN — and HBO.

The speculation started on July 1 after Reuters published a curtain-raiser on this week's Allen & Co. gathering, one of the many summer summits attended by high-profile media, tech and finance executives.

Murdoch "jets into Idaho's Sun Valley next week for the year's most exclusive tech and media industry gathering, armed with both the money and the appetite for a major deal," Reuters reported. "The 83-year-old Twenty-First Century Fox Inc chief executive officer, a regular at investment bank Allen & Co's annual gathering, is in the midst of a deal that would give Fox the firepower to buy a content company."

"Murdoch's interest in Time Warner despite its $62 billion market value has been the subject of industry speculation," the report goes on to state. "He still covets the owner of HBO, among other potential targets, according to a former News Corp employee told by executives recently about Murdoch's interest."

Any truth to that? CNN's Brian Stelter picked up the report on Sunday and said he'd eat his copy of The New York Post "if Murdoch becomes the owner of CNN." And indeed, it's hard to put much stock in the speculation. Just think of all the channels — in many cases competing channels — Murdoch would own under such a deal. (Some of these could be divested, of course.)

Still, it's not out of the question. Murdoch is certainly interested in an acquisition of some kind, and that's reason enough to keep your eye on the goings-on in Sun Valley this week.